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Solutions Manual for Recursive Methods in Economic Dynamics

Solutions Manual for Recursive Methods in Economic Dynamics

Claudio Irigoyen, Esteban Rossi-Hansberg, Mark L. J. Wright

ISBN 9780674008885

Publication date: 01/30/2003

This solutions manual is a valuable companion volume to the classic textbook Recursive Methods in Economic Dynamics by Nancy L. Stokey, Robert E. Lucas, Jr., and Edward C. Prescott. The exercises in the Stokey et al. book are integral to the text, and thus, a reader cannot fully appreciate the text without understanding the results developed in the exercises. This manual provides detailed answers to the central exercises in Recursive Methods.

The authors’ selection of exercises is designed to maximize the reader’s understanding of Recursive Methods. Solutions are presented to every question in the core chapters on recursive methods, as well as most questions from the chapters on mathematical background. Some questions from the chapters on applications of these techniques to economic models have been reserved so as to provide instructors with a crucial “test bank” of questions.

Efficient and lucid in approach, this manual will greatly enhance the value of Recursive Methods as a text for self-study.

Praise

  • [Recursive Methods in Economic Dynamics] is a tour de force. The authors present a unified approach to the techniques and applications of recursive economic theory. The presentations of discrete-time dynamic programming and of Markov processes are authoritative. There is a wide-ranging series of examples drawn from all branches of the discipline, but with special emphasis on macroeconomics. In the short run, the book will be a vital reference in any advanced course in macroeconomic theory. In the long run, it may help to remove the traditional boundaries between microeconomic theory and macroeconomic theory.

    —Andrew Caplin, Columbia University

Authors

  • Claudio Irigoyen is a graduate student in economics at the University of Chicago.
  • Esteban Rossi-Hansberg is Professor of Economics and International Affairs, Princeton University.
  • Mark L. J. Wright is Assistant Professor of Economics, University of California, Los Angeles.

Book Details

  • 304 pages
  • 6-1/8 x 9-1/4 inches
  • Harvard University Press

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